GOV.UK
EUROSTAR INTERNATIONAL LIMITED
Company number: 02462001
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 29 September 2023
and approved by Darren Welsford
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 21%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 34 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
60 days
Standard payment terms
30 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Payment practice report for EUROSTAR INTERNATIONAL LIMITED
Please see extracts from our standard contract terms below:
12. Invoices and Payments
12.1. EIL shall pay the Charges no later than 30 days from the date of the Supplier's invoice, provided always that the Supplier has
complied with the payment procedures in Schedule 1,
12.2. The Parties agree that:
12.2.1. the provisions of the Late Payment of Commercial Debts (Interest) Act 1998 shall not apply to this Contract;
12.2.2. where invoices are not paid by EIL on the due date, the Supplier shall notify EIL in writing;
12.2.3. 14 days after the date of receipt of such written notification by EIL, (the "Notification Receipt Date") interest shall be payable by
EIL on the outstanding sum, at a rate of 3% above the Bank of England base rate, from time to time, such interest to accrue on the
outstanding sum, from 14 days after the Notification Receipt Date.
12.3. If the Supplier is in default or fails in its performance of the Services EIL shall, without prejudice to any other right of action or
remedy which EIL may have, have the right to suspend any payment due under the Contract until such default or failure of
performance has been remedied to the reasonable satisfaction of EIL.
17. Dispute Resolution
17.1. If there is any dispute between the Parties arising from or in connection with this Contract, a Party seeking to invoke the
provisions of this clause must give written notice to the other Party specifying the nature of the dispute and requesting a meeting to
seek in good faith to resolve it. The Parties will meet for this purpose at an EIL Premise nominated by EIL within 14 days of the notice
being sent. The meeting will be attended by senior executives of the Parties with authority to resolve the dispute.
17.2. This clause 17 is without prejudice to either Party's other rights or remedies provided by law, including termination pursuant to
this Contract or otherwise including the right to seek injunctive relief or otherwise commence legal proceedings at any time.
22. Governing Law
This Contract and other non-contractual obligations shall be governed by, and be construed in accordance with, English law and the
parties agree that the English courts shall have exclusive jurisdiction to settle any dispute or claim arising out of this Contract.
In relation to any construction contracts, payment disputes will be governed by the requirements of the Construction Act 1996 (as
amended).
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No